State Bank of Hyderabad

It was in the year 1953 that the Bank overtook the assets and liabilities of the Hyderabad Mercantile Bank Ltd. and started conducting Government and Treasury business as RBI's agent. Then right in 1956, the Bank was taken over by RBI as its first subsidiary and the name got rechristened from Hyderabad State Bank to State Bank of Hyderabad. More transition waited for the bank as the bank became a subsidiary of the State Bank of  

India one 1st October 1959 and presently it is the largest Associate Bank of State Bank of India

State Bank of Hyderabad had been constituted as Hyderabad State Bank on 8th August 1941 under Hyderabad State Bank Act, 1941. It served as the central bank of the erstwhile State of Hyderabad, covering present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra. Their functions include managing the currency - Osmania Sikka and public debt, leaving aside the usual functions of commercial banking. Gunfoundry in Hyderabad saw the first branch of the bank on 5th April, 1942